NEWS! CANDENTE COPPER MOVES FORWARD WITH PEA ON CANARIACOUpdated PEA Planned for Caariaco Norte Copper Project Peru 2021-07-15 08:00 ET - News Release
VANCOUVER, British Columbia, July 15, 2021 (GLOBE NEWSWIRE) -- Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”, “Company”) is pleased to advise that based on the results of the Internal Desk Top Study by Ausenco Engineering Inc., proposals are being requested from two international engineering firms to conduct an updated Preliminary Economic Assessment Study (“PEA”) to evaluate the most attractive potential development strategy for the Caariaco Norte Project.
Considerations for the PEA are various initial concentrator throughputs including 40,000; 50,000; and 60,000 tonnes per day (“tpd”) followed by a staged expansion of production rate.
Geometallurgical modelling of the deposit and updated smelting costs have indicated that the Outotec Roaster proposed during previous studies will not be required, and therefore it will not be contemplated in the PEA.
Tailings storage methodologies which could improve ESG practices will also be assessed in more detail as part of the PEA.
“The Internal Desk Top Study identified several opportunities with the potential to lower initial capital expenditures (“CapEx”) while also enhancing our environmental, social and governance (“ESG”) practices,” stated Joanne Freeze, President and CEO. “We look forward to embarking upon an updated Preliminary Economic Assessment (“PEA”) to evaluate the most attractive potential development strategy.”
For more details about the Desk Top Study, please see News Releases No. 129 and 132 (dated April 19th and June 15th, 2021) and: https://www.candentecopper.com/news-releases/news-releases/2021.
On another matter, the Company has issued 50,000 shares to the owner of the Canyon Creek Copper Project located in British Columbia, Canada and recently acquired under option. We plan to conduct our initial field work on the property within a month or two.